Loss Mitigation Analyst

Loss Mitigation Analyst




Loss Mitigation Analyst

Details of the offer

GreenState Credit Union Loss Mitigation Analyst US:IA:North Liberty

Job ID: 2
Type: Regular Full:Time
of Openings: 1
Category: Collections
GreenState Credit Union

Single Point of Contact (SPOC) for all written and verbal loss mitigation assistance requests. Manages the application process to ensure completeness and accuracy as well as gathering all supporting documents required. Responsible for all notifications, letters, and correspondence with member as required by state and regulatory guidelines and documents systems with communication, analysis, and decisions. Underwrites retail loss mitigation applications within authority limits or recommends to VP/Account Resolution Manager or Risk Manager based on approval authority and loan type. May also provide support on loss pipeline accounts by analyzing factors causing individual accounts to be delinquent and implementation of efforts to successfully resolve these factors through interaction with the member and recommendation of appropriate Loss Mitigation Product to minimize financial loss to the credit union and restore members financial status in accordance with established credit union policy guidelines, and state and federal regulations.

Pay range for this hourly position is 26.41 : 39.61 with a progressive benefit package.

Performs essential duties and responsibilities in the following areas which may include, but are not limited to those listed and are subject to change:

Adheres to the Credit Unions core values and Service Standards in carrying out GreenStates mission and vision. Demonstrates a positive member service (internal and external) focus, greeting members and guests with a smile and eye contact immediately upon their arrival, using their name or acknowledging them, and thanking them for their business. Demonstrates teamwork in all interactions with coworkers and in the completion of all duties and responsibilities. Ensures confidentiality of member information. Maintains contact with borrower to ensure they understand the current status of their loan workout application, available options, and next steps; remain the single point of contact throughout the loss mitigation review process. Makes a diligent effort to obtain the necessary documents and required information from the member when application is incomplete and adheres to regulatory requirements for notices and communication Arranges for contractual services relating to property inspections and appraisals Coordinates evaluations on collateral securing retail loans with the Asset Management Team Completes due diligence through title/lien searches ensuring that no issues threaten the lien position of the credit union Analyzes financial statements, tax returns, credit reports, and the value of the collateral in order to determine and recommend the most feasible and appropriate loss mitigation product for the member Underwrites the borrowers income, through the review of paystubs, tax documents, benefit statements, business profit and loss statements, etc. Follows up with borrower to get loan modification agreements signed and closed. Maintains appropriate records and documents the system of record in order to preserve a history of actions taken, communication, analysis, and decision Possesses higher system permissions and approval authority for all recommended deferments, modifications, TDRs, and workout loans. Refers members to financial counseling resources when necessary. Plays a vital role in enriching the community by participating in community service organizations and/or credit union sponsored events, on an annual basis. Works cooperatively with VP/Account Resolution Supervisor and Risk Manager on Loss Mitigation Reviews outside of delegated authority. Performs any other duties as assigned.


Minimum of three years collection experience, two of those years in loss mitigation, in a financial institu

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